Section 114D: Rate of building tax

Save as otherwise provided in this Act, the base rate of property tax on buildings in Delhi shall be between a minimum of six per cent, and a maximum of twenty per cent, of the annual values of such buildings as may be specified by [[the Corporation]] from time to time: Provided that [[the Corporation]] may, at any time, prescribe fixed rates between the minimum and the maximum rates of tax as aforesaid for different colonies or for different groups of buildings in such colonies:

Provided further that [[the Corporation]] may also introduce graduated rates of tax within the minimum and the maximum rates of tax as aforesaid on the basis of straight line system or any other system as may be specified by [[the Corporation]].

Explanation.—-Straight line system shall mean the system in which the rate of tax is equivalent to the annual value of a property (X) divided by the minimum annual value (X1) and Y being added to the quotient so arrived, Y being the difference between the maximum rate of tax and the quotient of maximum (X2) and minimum (X1) annual values.